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Two properties sell at foresclosure auction

Thu, Aug 18, 2011

News

Only two of 37 foreclosed properties sold to investors at the El Paso County Public Trustee’s auction on Wednesday. The other 35 sold back to the lenders.

Field of Dreams Investments purchased a property at 1548 Glacier Drive for $56,500. That’s $250 more than the initial bid made by lender JPMorgan Chase Bank. The bank claimed a $56,435.76 deficiency on the single family home.

Francisca Hernandez purchased the single-family home in 2002 for $116,900, according to El Paso Count Asessor’s records. The assessor values the almost 1,060-square-foot ranch home built in 1964 at $102,412.

IDP Capital purchased the other home that sold at auction. IDP paid $47,050 for the almost 1,200-square foot home built in 1919. The purchase price was $4,080.13 over the initial bid made by lender JPMorgan Chase Bank. The bank did not declare any deficiency on the loan.

Former owner Monica Riel purchased the property in 2001, according to the assessor’s records. But the assessor does not have a record of Riel paying anything for the property, which is valued at $99,407.

The other 35 properties in Wednesday’s foreclosure auction sold back to the lenders.

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